At a glitzy show stall for a new residential development in Hong Kong, property agents with loudspeakers are promoting the latest trend in the overcrowded city — high-end “micro-flats” which still come with an eye-watering price tag.

HSBC downgraded its investment outlook on Hong Kong, citing fears over a pro-democracy movement in the city but the banking giant later altered its report, severely toning down the emphasis on public unrest.

A company controlled by the family of Asia's richest man Li Ka-shing has sold a landmark Beijing property for more than US$900 million, it said, adding to speculation he is cashing out of Chinese property.